State Premier Chris Minns said hundreds of thousands of guns could be returned.
“We want those guns handed in, compensated for and safely destroyed,” he said.
“This is a big undertaking, but the principle behind it is simple: Fewer dangerous guns in our community means a safer New South Wales.”
Australian authorities initially announced a nationwide gun buyback rolled out across all states and territories.
But those plans have stalled due to disagreements over who would foot the bill and how it should be implemented.
Gunman Sajid Akram, 50, was shot and killed by police during the assault at Sydney’s famed Bondi Beach on Dec 14.
His son Naveed, an Australian-born citizen who remains in prison, has been charged with terrorism and 15 murders.
